NGX Daily Equities Market Report: NGX All-Share Index decline by 0.12% again on Wednesday

It was another day of losses for the NGX Equities market, as the Exchange’s benchmark All-Share Index fell by 0.12% to close at 38,802.15 points. This makes it a second day of consecutive losses following the same magnitude of loses on Tuesday.

The YTD performance remained weak at 3.7%, while the market capitalization shed N5.8bn to close the day’s trading session at N20.2tn.

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Several companies published their financial statements to the Exchange on Wednesday;

1. Nestle Nigeria Plc released its quarter 2 financial statements for 2021
2. Capital Hotel Plc released its quarter 2 financial statements for 2021
3. Custodian Investment Plc released its quarter 2 financial statements for 2021
4. Prestige Assurance Plc released its quarter 2 financial statements for 2021
5. FCMB Group Plc released its quarter 2 financial statements for 2021

Activity Level

Trading activity declined as average volume and value traded fell by 2.3% and 0.9% to 237.5m units and ₦1.9bn respectively.

Shares of OANDO were the most traded by volume with 44.29 million units exchanging hands. This is followed by UBA with 19.34 million units of shares and WEMABANK with 14.24 million units.

ZENITHBANK shares were the most traded by value with shares worth N270.79 million, followed by MTNN and OANDO with their shares worth N264.30 million and N232.96 million exchanging hands respectively.

The top trade by no of deals is OANDO with 417 deals, followed by ZENITHBANK with 337 deals and GTCO with 186 deals.

Performance of Indices under our watch

The performance of the five indices under our watch are as below;

• Oil & Gas Index: +1.68%
• Consumer Goods Index: +0.11%
• Industrial Goods Index: 0.00%
• Banking Index: -0.96%
• Insurance Index: -0.88%

Investor Sentiment

Investor sentiment as measured by market breadth (gainers/losers ratio) weakened to 0.8x from 1.1x recorded in last trading session as 18 stocks advanced while 23 stocks declined.

Top Gainers:

1. CAPHOTEL gained 9.85% to close at N2.90
2. OANDO gained 9.81% to close at N5.26
3. BOCGAS gained 8.88% to close at N9.20
4. FTNCOCOA gained 8.16% to close at N0.53
5. LIVESTOCK gained 4.80% to close at N2.40

Top Losers:

1. TRIPPLEG lost 10.00% to close at N0.90
2. CHIPLC lost 10.00% to close at N0.54
3. PHARMDEKO lost 9.92% to close at N1.09
4. REGALINS lost 6.82% to close at N0.41
5. ETERNA lost 6.58% to close at N7.10

Outlook

We expect the financial reports for the H1 period to dictate the direction of the market in coming trading sessions.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur